News Summary: Stocks surge on Bernanke comments

The Associated Press

July 11, 2013 04:50 PM

The Associated Press

July 11, 2013 04:50 PM

BERNANKE BOOST: The stock market, which had been climbing for a week, got another boost Thursday from comments from Federal Reserve Chairman Ben Bernanke. The central banker said late Wednesday that the Fed was in no rush to end its stimulus program.

RECORD LEVELS: The Dow Jones industrial average and the Standard & Poor's 500 set all-time highs. The S&P 500 has gained for six consecutive days, its best streak in four months.

MINER RELIEF: The prospect of more stimulus could weaken the dollar. That gave gold a lift as it increased the appeal of the metal as an alternative asset. Gold mining stocks rallied.